Vis børsmeldingen
ended at of USD 2.7 million (2.9). The company reiterates the long-term revenue
ambition of USD 100 million by 2025/2026 and an EBITDA margin of 17-20%.
“When summarizing the third quarter of 2023, I am happy to report continued good
underlying growth for our core business. When excluding 5G related activities
our revenue grew by 13 percent. The performance was particularly strong for our
largely recurring revenue business within Software & Services, which grew by 48
percent. The Enterprises and Service providers segment is the prime driver for
the positive development. As previously discussed in our reporting, the
temporary global slowdown in 5G negatively affects our reported revenue growth,
as we shipped large orders to one major 5G related client in 2022. However, we
continue to show very healthy margins and solid cash flow,” says Magnus
Grenfeldt, Chief Executive Officer of Smartoptics.
Smartoptics reported revenues in the third quarter of 2023 of USD 13.6 million,
compared to USD 13.5 million in the third quarter of 2021, while the underlying
revenues excluding 5G related project grew 13%. The gross margin for the quarter
was 50.0% (47.4%). The EBITDA* was USD 2.7 million (2.9), equal to an EBITDA
margin of 19.8% (21.8%) and the EBIT ended at USD 2.2 (2.6) million,
corresponding to an EBIT margin of 16.3% (19.1%).
The market for fiber optical network equipment is worth USD 16 billion
worldwide, of which SmartOptics addressed approximately 30% if this market. The
key driver is data growth, following cloud migration, new data centers,
migration to 400Gbit/s, fiber access roll-out and government funding.
“In the current macroeconomic climate, the industry is searching for cost
-efficient and flexible solutions. That’s where we have our biggest competitive
advantage. We are a rapidly growing challenger in a market in need of
challengers. As we continue to strengthen and broaden our product offering, we
become increasingly attractive to even more customers globally. We continue to
have concrete and positive dialogues with larger accounts, seeking to move from
proprietary solutions to open and flexible solutions when they expand and
modernize their existing network deployments and as these technologies penetrate
deeper into the edge of the networks,” Grenfeldt continues.
Smartoptics is well positioned for long term profitable growth and will continue
to gain market share by leveraging on the attractive technology, position in
small and medium-sized customers, footprint in Americas and Europe, in addition
to the strong financial model and outlook.
“With strong underlying megatrends, a stronger product portfolio than ever, and
a well-tuned and expanded sales and marketing setup, we are well-positioned for
continued strong performance and for reaching our goals of growing revenue up to
around USD 100 million by 2025/2026, combined with profitability and EBITDA
margin of 17-20% and EBIT margin of 13-16%,” Grenfeldt concludes.
QUARTERLY PRESENTATION:
Smartoptics will host a presentation of the results by CEO Magnus Grenfeldt and
CFO Mikael Haag at 10:00 CET 8 November 2023 at Hotel Continental in Oslo. The
presentation will also be streamed live.
Date: Wednesday 8 November 2023
Time: 10:00 CET
Venue: Hotel Continental, Oslo
Language: English
Link: https://channel.royalcast.com/landingpage/hegnarmedia/20231108_4/host
A recorded version of the presentation will be available after the live stream
is concluded.
Please find the full financial report and presentation enclosed.
*) EBITDA and other alternative performance measures (APMs) are defined and
reconciled to the IFRS financial statements as a part of the APM section of the
third quarter 2023 financial report on page 13.
For further information, please contact:
Magnus Grenfeldt
CEO Smartoptics
+46 73-366 88 77
E-mail: magnus.grenfeldt@smartoptics.com
About Smartoptics:
Smartoptics provides innovative optical networking solutions and devices for the
new era of open networking. Our customer base includes thousands of enterprises,
governments, cloud providers, Internet exchanges as well as cable and telecom
operators. We have an open networking approach in everything we do which allows
our customers to break unwanted vendor lock-in, remain flexible and minimize
costs. Our solutions are used in metro and regional network applications that
increasingly rely on data center services and specifications. Smartoptics is a
Scandinavian company founded in 2006. We partner with leading technology and
network solution providers such as Brocade, Cisco and Dell and have a global
reach through more than 100 business partners.
For additional information about Smartoptics, please visit
https://www.smartoptics.com/
This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act. This stock exchange
announcement was published by Per Burman, Chief Marketing Officer of
Smartoptics, at the time and date set out above.
Kilde
